Core Insights - Costco has successfully navigated challenging retail conditions, expanding to 914 stores globally and achieving strong performance in the final quarter of 2025 [1] - Membership fees are crucial for Costco's revenue, allowing the company to offer competitive pricing on products [1][7] Membership Structure - A significant portion of Costco's membership fee income comes from Executive members, who pay $130 annually, compared to Basic Gold Star members at $65 [2] - As of the last fiscal quarter, Costco had 38.7 million Executive members, indicating that nearly half of its members are at the higher tier [2] Executive Membership Benefits - Costco has enhanced the Executive membership program by adding new perks beyond the original 2% cash back on purchases [4] - Notable new benefits include early shopping hours and a $10 monthly credit on same-day grocery orders of $150 or more for Executive members [5][6] Revenue Growth - Costco reported an 8% increase in net sales, over 15% growth in e-commerce sales, and a 14% rise in membership fee income [8]